The Danish toy giant Lego has once again achieved record-breaking financial results, proving that global instability and economic uncertainty do little to curb the demand for its iconic plastic bricks. The company has reported a record profit of 13.8 billion Danish kroner (DKK) (approximately 1.85 billion EUR) for 2024, reflecting a 5% increase from the previous year.
Strong sales growth and market expansion
Lego’s total revenue saw an impressive 13 percent increase, with total toy sales reaching 74.3 billion DKK (about 9.95 billion EUR). The growth has been primarily driven by strong demand across key markets, including North America, Europe, and the Middle East.
“2024 was an exceptional year for the Lego Group, and we are very pleased with the positive results,” said Niels B. Christiansen, CEO of Lego, in a statement to Ritzau.
Lego becomes the world’s largest toy manufacturer
The company’s growth has also helped it surpass competitors Mattel and Hasbro, solidifying its position as the world’s largest toy manufacturer by value. While both Mattel and Hasbro experienced declining sales in 2024, Lego has gained substantial market share, according to Bloomberg.
Lego’s recent success can be attributed to its continued investment in product innovation. The company has expanded its offerings beyond traditional building sets to include video games and digital experiences, tapping into the growing demand for interactive play.
